Magnesium Chelates Market to Reach US$ 404.7 Million at a CAGR of 5.9% by 2033: Fact.MR Analysis

Magnesium chelates market in United Kingdom is expected to experience steady growth from 2023 to 2033, with a projected CAGR of 5.9%.

Rockville, Aug. 09, 2023 (GLOBE NEWSWIRE) — As per the latest industry report by Fact.MR, a market research and competitive intelligence provider, the global Magnesium Chelates Market is forecasted to rise at 5.9% CAGR and reach a valuation of US$ 404.7 million by the end of 2033.

Magnesium chelate is a form of magnesium supplement in which the mineral is bonded to a chelating agent. A chelating agent is a compound that forms a stable complex with a metal ion, such as magnesium, to enhance its absorption and bioavailability in the body. Magnesium chelate, in general, offer improved absorption and bioavailability compared to other forms of magnesium supplements.

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Magnesium deficiency is a common health issue globally. Factors such as poor dietary habits, increased stress levels, and certain medical conditions contribute to magnesium deficiency. This has led to a surge in the consumption of magnesium chelates as a dietary supplement. The increasing need to maintain cognitive well-being among the geriatric population is driving market growth.

When in powdered form, magnesium chelates have the advantage of being in a highly soluble state, which aids absorption. The chelation process ensures that the magnesium remains stable and protected, facilitating better absorption in the body. Some individuals can have difficulty swallowing tablets or capsules or have digestive sensitivities that make it challenging to tolerate certain forms of magnesium supplements.

Key Takeaways from Market Study

• The global magnesium chelate market is valued at US$ 228.1 million in 2023.
• The market is projected to expand at a CAGR of 5.9% over the next ten years (2023 to 2033).
• Worldwide magnesium chelate sales are predicted to reach US$ 404.7 million by 2033.
• Use of magnesium chelate in beverages is set to rise at a CAGR of 6.2% over the next ten years.
• The market in the United States is estimated to reach US$ 74.1 million by 2033.
• The market in Germany is predicted to expand at 6.5% CAGR through 2033.

“Many beverages, such as sports drinks or electrolyte beverages, are consumed for hydration and replenishing electrolytes. By incorporating magnesium chelates into these beverages, it not only helps maintain electrolyte balance but also provides the added benefits of magnesium supplementation, which is the main reason driving their demand,” says a Fact.MR analyst

Winning Strategy

Leading companies are continuously improving products, staying updated with scientific advancements, and incorporating customer feedback into product development processes to remain competitive in the market. They aim to meet the evolving needs and preferences of consumers while solidifying their position in the market.

For instance,

• Kappa Bioscience launched K2VITAL®️ Magnesium, a combination product that pairs magnesium chelates with vitamin K2. This formulation aims to support both magnesium levels and the activation of vitamin K2 for overall bone and cardiovascular health.

Key Companies Profiled

• Novotech Nutraceuticals, Inc.
• Balchem Inc.
• Reliance Private Label Supplements
• Peptech Biosciences Ltd.
• Ava Chemicals Private Limited
• Kompava
• Ajinomoto
• Blue- Dip Organic Industries

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Current Status of the Magnesium Chelates Industry in Germany

“Rising Healthcare Expenditure Boosting Market Dynamics”

In 2023, the sales of magnesium chelate in Germany have reached a significant value of US$ 29 million. The robust wellness sector significantly contributes to the heightened demand for magnesium chelates within the country. This demand is fueled by the increasing health consciousness among consumers, accompanied by a prevalent concern for magnesium deficiency. The market for magnesium chelates in Germany thrives, supported by the parallel growth in healthcare expenditure.

Factors Catalyzing Suppliers of Magnesium Chelates in the United States

“Driven by: Flourishing Dietary Supplement Industry”

Anticipated to reach US$ 74.1 million by 2033, the magnesium chelates market in the United States is poised for remarkable growth. The country’s robust appetite for dietary supplements, encompassing magnesium chelates, is a central factor. The United States benefits from a well-established dietary supplement industry, complemented by widespread consumer awareness regarding the advantages of magnesium supplementation. The growing emphasis on preventive healthcare further propels the demand for magnesium chelates across the nation.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global magnesium chelates market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).

The study divulges essential insights on the magnesium chelates market based on form (powder, crystalline), type (magnesium bisglycinate, magnesium amino acid chelate, magnesium citrate, magnesium glycinate, magnesium taurate, others), and application (beverages, nutritional bars, powder mixes, meal replacement products, soft gels, dietary supplement tablets), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

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